POWERGRID Infrastructure Investment Trust InvIT

POWERGRID Infrastructure Investment Trust (PGInvIT) is an India-based infrastructure investment trust registered with SEBI in January 2021. The trust was sponsored by Power Grid Corporation of India Limited (PGCIL), a premier Maharatna Central Public Sector Enterprise, making it the first InvIT set up by a state-owned enterprise in India. The trust owns, operates, and maintains a portfolio of operational power transmission assets across India. Its initial portfolio comprises five key inter-state transmission system (ISTS) projects, including Powergrid Warora Transmission, Powergrid Parli Transmission, Powergrid Jabalpur Transmission, Powergrid Kala Amb Transmission, and Powergrid Vizag Transmission, covering thousands of circuit kilometers of high-voltage transmission lines and substations. PGInvIT is managed by POWERGRID Unchahar Transmission Limited (the Investment Manager), while IDBI Trusteeship Services Limited serves as the Trustee. The trust aims to provide unitholders with stable and predictable cash distributions generated through long-term transmission service agreements backed by India's central transmission utility framework.

POWERGRID Infrastructure Investment Trust raised ₹3,480.74 crore from 47 anchor investors on April 28, 2021, by allocating 348,074,100 units at ₹100 per unit. Major anchor participants included Canada Pension Plan Investment Board (CPPIB), Capital Group, SBI Mutual Fund, HDFC Mutual Fund, Tata Mutual Fund, and ICICI Prudential Mutual Fund.